In October, industrial production contracted 3.8% over the same month last year, which followed a 1.0% drop in September (previously reported: -0.8% year-on-year), and represented the biggest drop since February, as austerity measures dent economic recovery. On a working-day adjusted basis, industrial output dropped 1.9% year-on-year, lower than the 1.6% contraction recorded in September and less severe than market expectations of a 2.3% decline. The October contraction was driven by a fall in manufacturing output (-4.6% yoy). On a positive note, mining and the electricity, gas, steam and air conditioning sector continued to grow. On a use-based classification, declining output of durable and capital goods was the main driver behind the October contraction. Energy production was the only sub-sector that expanded over the same month last year. Despite the monthly contraction, the trend continues to improve, with the annual average variation in industrial production swinging from minus 0.9% in September to a positive 0.1% in October, which marks the first positive reading since April 2008.
Industrial production contracts in October
December 3, 2010
Looking for forecasts related to Industry in Spain? Download a sample report now.
Spain Economic News
October 28, 2016
The Spanish economy fared remarkably well in another quarter marked by heightened political uncertainty.
October 27, 2016
Unemployment in Spain fell to 18.9% in the third quarter, which beat both the 20.0% figure recorded in the previous quarter and the 19.3% reading the market had expected.
October 7, 2016
In August, industrial production expanded 4.0% from the same month last year in working-day adjusted terms.
October 5, 2016
The Markit Purchasing Managers’ Index (PMI) Composite Output Index came in at 54.1 in September, which was slightly below August’s 54.8 reading.
September 30, 2016
Spain’s current account balance incurred a surplus of EUR 3.0 billion in July, which was above the EUR 2.7 billion surplus recorded in the same month of last year and marked the highest reading since December 2014.